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The Matrimonial StrategistLJN NewslettersNewsSections

Transfer Taxes

By Elias M. Zuckerman
November 02, 2014

Last month, we began discussion of a hypothetical couple's transfers of assets to one another. The married parties, Henry and Willa, own a townhouse in Manhattan (the Townhouse) and each owns a 50% membership interest in 17 House, LLC (the Company), which owns a residence in Bridgehampton, NY. There are no mortgages on either property. We wanted to know the tax consequences to the couple of their proposed agreement that Henry transfer his interest in the Townhouse to Willa prior to their execution of a separation agreement, and that Willa transfer her membership interest in the Company to Henry prior to execution of such agreement.

We continue our analysis of the tax consequences of their proposed agreement herein.

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